Cipher Mining Soars on $5.5 billion Amazon Partnership Amid AI Push

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Bitcoin mining company Cipher Mining surged more than 34% after revealing a new 15-year deal with tech giant Amazon, adding to a wave of partnerships between major technology companies and crypto miners.

The 15-year lease agreement with Amazon Web Services, valued at $5.5 billion, requires Cipher to provide turnkey space and power for AI workloads in two phases, starting in July and August next year, the Bitcoin (BTC) miner announced on Monday.

Cipher Mining also posted a significantly narrowed net loss of $3 million and a rise in adjusted earnings of…



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Cipher Mining Soars on $5.5 billion Amazon Partnership Amid AI Push


Bitcoin mining company Cipher Mining surged more than 34% after revealing a new 15-year deal with tech giant Amazon, adding to a wave of partnerships between major technology companies and crypto miners.

The 15-year lease agreement with Amazon Web Services, valued at $5.5 billion, requires Cipher to provide turnkey space and power for AI workloads in two phases, starting in July and August next year, the Bitcoin (BTC) miner announced on Monday.

Cipher Mining also posted a significantly narrowed net loss of $3 million and a rise in adjusted earnings of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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